We are a couple about to exchange contracts for a freehold house in Brinklow. We encountered a stumbling block. Our mortgage offer with Britannia expires on 26/3/2025 but the owners are putting forward a completion date of 28/3/2025. Is it possible to prolong the loan offer?
The best person to deal with your question is your solicitors who is in a position to determine whether they better off negotiating with the bank, vendor’s conveyancers, selling agents or possibly all parties given the history of your transaction as of today.
Please explain the implications if my solicitor is expelled from the Co-operative Conveyancing panel ahead of completing my conveyancing in Brinklow?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
A relative advised me that where I am purchasing in Brinklow I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally included in the estimate for your Brinklow conveyancing searches. It is a large document of about 40 pages, listing and detailing significant information about Brinklow around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with plans and statistics, Local Amenities and other useful information concerning Brinklow.
How does conveyancing in Brinklow differ for newly converted properties?
Most buyers of new build property in Brinklow contact us having been asked by the builder to exchange contracts and commit to the purchase even before the property is built. This is because new home sellers in Brinklow tend to acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Brinklow or who has acted in the same development.
What does commercial conveyancing in Brinklow cover?
Brinklow conveyancing for business premises incorporates a broad array of guidance, given by regulated solicitors, relating to business premises. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.